Britain extends lead as Europe's top business outsourcer
LONDON (REUTERS) - Britain reinforced its status as Europe's leading outsourcer in 2012, with the annual value of commercial contracts awarded in the country up by a fifth, as companies sought ways to cut costs and stay competitive.
The often controversial practice of shifting jobs to a separate company, either domestically or abroad, increased markedly in the relatively mature British market while falling back slightly in the Europe, Middle East and Africa (EMEA) region as a whole.
Figures published by outsourcing consultancy International Services Group on Tuesday showed that new or restructured commercial sector contracts worth 3.66 billion euros (S$6 billion) a year were awarded in Britain in 2012, up 20 per cent on 2011 and well above the five-year average.
In the EMEA region the figure, which includes Britain, fell 12 per cent to 8.2 billion euros, after a record year in 2011, helped by a post-financial crisis outsourcing boom.